Advanced Life Sciences and Wyeth sign commercialization agreement

Oct 02, 2008 (Datamonitor via COMTEX) -- WYE | Quote | Chart | News | PowerRating -- Advanced Life Sciences Holdings and Wyeth Pharmaceuticals, a division of Wyeth, have signed a development and commercialization agreement for cethromycin in the Asia Pacific region excluding Japan. Cethromycin is a novel once-a-day oral antibiotic for the treatment of community respiratory tract infections.

Under the terms of the agreement, Wyeth made an up-front equity investment in Advanced Life Sciences through the purchase of common stock representing approximately 4.9% of the company's total outstanding shares. Advanced Life Sciences will retain exclusive rights to cethromycin in the rest of the world, including North America and Europe and excluding Japan.

In addition to future royalty payments, Advanced Life Sciences would receive milestone and regulatory payments based on successful achievement of clinical, regulatory and commercial objectives in specific markets. Advanced Life Sciences and Wyeth will collaborate to develop additional clinical data in the Asia Pacific region to support regulatory filings in that region. The overall value of the transaction could potentially exceed $100 million.

Advanced Life Sciences separately announced the submission of a new drug application to the FDA for cethromycin for the indication of mild-to-moderate community acquired pneumonia.

Michael Flavin, CEO and chairman of Advanced Life Sciences, said: "We are very pleased to be working with Wyeth to support development and commercialization efforts in the Asia Pacific region. We believe this partnership validates our scientific achievements and the commercial potential for cethromycin."

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